According to cryptocurrency onchain data, Wintermute, a major market maker, has begun accumulating Neiro (NEIRO), a memecoin.
According to the latest data, the company collected 12.16 million NEIRO through Gateio, which can be considered a large amount of $2.37 million.
Wintermute collected all NEIRO tokens after Binance listed the altcoin on futures. The altcoin is not yet listed on the spot market on Binance.
On the other hand, NEIRO is actually a controversial altcoin. Allegedly, the majority of the token’s total supply belongs to whales who bought the token at a low price immediately after it was offered for sale.
Currently, Wintermute owns 1.29% of the total NEIRO supply.
When Wintermute’s portfolio is examined, it is seen that NEIRO’s place is actually limited. First in the portfolio is FDUSD, a stablecoin supported by Binance, although not officially. Then comes the $28.86 million Ethereum stash. Interestingly, one of Wintermute’s largest assets is PEPE, with $8.84 million worth of tokens.
*This is not investment advice.
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Source: https://en.bitcoinsistemi.com/market-maker-company-has-been-adding-this-altcoin-to-its-stash-for-days/